It’s been a tough run for the bulls as of late, but it looks like they may have a chance here to push it up to 48k for the short term.
Price action has been testing the 12hr support around 41.6k since Jan 16th 2022. If we can form a solid bottom here the bulls should be able to push up towards 43k and then make a move towards 48k. Current options “max pain” data is confirming that this is possible.
As we speak, We’ve currently rejected off the daily pivot for Jan 19th and are headed down towards our 41k target for daily close.
If bulls are able to push up to the 48k area. It’s likely we’ll see a retest of the 43k zone before making another push up towards 50k.
* This Content is for informational purposes only. You should not construe any such information or other material as investment, financial, or other advice.
Price action has been testing the 12hr support around 41.6k since Jan 16th 2022. If we can form a solid bottom here the bulls should be able to push up towards 43k and then make a move towards 48k. Current options “max pain” data is confirming that this is possible.
As we speak, We’ve currently rejected off the daily pivot for Jan 19th and are headed down towards our 41k target for daily close.
If bulls are able to push up to the 48k area. It’s likely we’ll see a retest of the 43k zone before making another push up towards 50k.
* This Content is for informational purposes only. You should not construe any such information or other material as investment, financial, or other advice.